Key Financial Regulations and Their Testing Relevance CT-FT Practice Questions (Page 1)

Questions 1–5

1. 1application · medium

   A company is implementing a new system for managing customer investment portfolios. Which regulation is most likely to impact the testing of this system?

   • AMiFID II
   • BBasel III
   • CSOX
   • DPCI DSS
   Reveal Solution Discussion Select an answer first
2. 2foundation · easy

   Which regulation requires testing of processes that enable individuals to request access to or deletion of their personal data?

   • AGDPR
   • BSOX
   • CIFRS 9
   • DBasel III
   Reveal Solution Discussion Select an answer first
4. 3expert · hard

   A bank is testing a new system that handles both customer personal data and financial transactions. The compliance team must design tests to satisfy GDPR and AML regulations. Which testing approach best balances the requirements of both regulations?

   • ATest that the system separates personal data and transaction data into different databases.
   • BTest data subject access rights and test that suspicious transactions are flagged and reported.
   • CTest only that suspicious transactions are flagged and reported, as AML is more critical.
   • DTest only data subject access rights, as GDPR is more recent.
   Reveal Solution Discussion Select an answer first
5. 4expert · hard

   A bank is testing a new system that handles both credit card transactions and customer personal data. The compliance team must design tests to satisfy PCI DSS, GDPR, and AML regulations. Which testing approach best balances the requirements of all three regulations?

   • ATest only encryption of cardholder data and data subject access rights.
   • BTest only data subject access rights and that suspicious transactions are flagged and reported.
   • CTest only encryption of cardholder data and that suspicious transactions are flagged and reported.
   • DTest encryption of cardholder data, test data subject access rights, and test that suspicious transactions are flagged and reported.
   Reveal Solution Discussion Select an answer first
6. 5foundation · easy

   What testing requirement does SOX impose on organizations?

   • ATesting of capital adequacy calculation models
   • BTesting of internal controls over financial reporting
   • CTesting of data subject access request workflows
   • DTesting of encryption of cardholder data
   Reveal Solution Discussion Select an answer first